#ETH #Ethereum $ETH

Analysis of ETH/USDT

At the moment, Ethereum (ETH/USDT) is showing consolidation at the resistance level of $4060. After reaching this zone, the price reacted sharply, leading to a quick correction to the first support level at $3850. This level is critical, and a daily close below it may indicate a deeper correction, creating more favorable conditions for accumulating positions.

Key Levels:

Support:

1. $3850 — the current level being tested.

2. $3320, $2780 — stronger zones that may halt further correction.

Resistance:

1. $4060 — the main barrier for continued growth.

2. $4800, $6000, $7200 — targets that could be reached if the price consolidates above $4060 on higher timeframes.

Market Overview:

The market appears overheated at the moment, and a correction to lower levels would be a healthy development. It could provide a stronger foundation for further growth and more confident entry points for long positions.

Disclaimer:

The above analysis reflects my personal opinion and is not financial advice. I encourage you to rely on your own analysis and stick to your trading strategies. My perspective is offered for your convenience and to compare with your view of the market.

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